Why Are These Five Stocks On The Move on Friday?

Yelp Inc (NYSE:YELP) shares rallied over 2% on Friday morning after the analysts at RBC Capital raised their target price on the stock to $42 from $34. Using historical forward multiples, the analysts think Yelp has 100% upside and only 20% downside. The analysts also think Yelp would offer value to a strategic buyer, given the company’s strong local and mobile presence. Shares of Yelp Inc (NYSE:YELP) could use the upgrade, as they are down by around 51% year-to-date. A total of 44 funds were long approximately $1.07 billion worth of Yelp shares at the end of June, which accounted for roughly 1/3 of Yelp’s float.

In other news, GameStop Corp. (NYSE:GME) is trending after the analysts at Pacific Crest downgraded the stock to ‘Sector Weight’ from ‘Overweight’. The analysts noted the GameStop’s physical software sales have not grown as much as they previously expected. GameStop shares fell by almost 13% as a response. Shares are still up 14% year-to-date, however.

Last but not least, Wendys Co (NASDAQ:WEN) is in the spotlight after Citigroup added the stock to its “Focus List”. The analysts believe Wendy’s new 4 for $4 offering is accelerating its sales growth and that same store sales will increase by several percentage points in the quarter. The analysts have a ‘Buy’ rating and a $11 price target. Our data shows hedge funds were bullish on Wendys Co (NASDAQ:WEN) in the second quarter. A total of 38 funds reported stakes worth $1.3 billion (representing 31.60% of the float) at the end of June.

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